What is trading phobia?
Fear is an emotion that is the opposite of greed; it is the fear of loss. No one wants to lose the wealth they have worked hard to acquire. For traders, trading is like a business, and business people know well that no business is without risks. The fear people have about trading comes from different sources; it may stem from not wanting to repeat the failure of a previous trade, or it may be a desire to prevent existing profits from reversing, but ultimately they will not achieve great success either way.
Don't let fear influence your trading plan. Only by overcoming it can you maintain a clear mind in trading. If you lack confidence in your trading system, go back to the demo account to retest, or validate through extensive backtesting to build confidence. Firmly adhere to your trading plan, and do not end trades early due to fear; after setting profit-taking and stop-loss levels, leave the timing to the market. Similarly, you don't need to stay glued to the computer all day watching the market; once you've placed your order, you can walk away, which will help prevent emotional distractions.
The failure of a trade does not mean the failure of a trader, nor does it indicate the failure of the trading system; even professional traders experience losses at times. Maintain a win-loss ratio of at least 1.5:1 and establish your own money management model, which can effectively ensure eventual profitability.
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